MS SB2169

Establishes a revolving loan program administered by the Mississippi Development Authority to provide loans to rural counties (population 30,000 or less) and rural municipalities (population 10,000 or less) for emergency infrastructure repair, maintenance, construction, reconstruction, upgrades, and improvements.

Sets maximum loan amount at $250,000 per applicant with a maximum repayment term of 5 years, with loan applications and requirements determined by MDA rules and regulations.

Creates the "Rural Counties and Municipalities Emergency Infrastructure Improvements Fund" in the State Treasury to hold loan funds, with repayments and investment earnings deposited back into the fund.

Authorizes issuance of up to $10,000,000 in state general obligation bonds to fund the loan program, with all bonds issued by July 1, 2025, maturing within 25 years, and backed by the full faith and credit of Mississippi.

Takes effect July 1, 2021, with bond proceeds transferred to the infrastructure fund and disbursed solely upon order of the Mississippi Development Authority.